Ontario's Financial Accountability Office says the average Ontario household owed nearly $154,000 in 2016, that's up from $119,000 in 2010

Ontario's Financial Accountability Office says low interest rates have fuelled spending in the province and the household debt has grown by 5.6 per cent on average each year between 2010 and 2016.Elise Amendola/AP/The Canadian Press files

TORONTO — Ontario’s fiscal watchdog says household debt in the province has increased since 2010, and is projected to continue to grow, which could spell trouble for the economy as interest rates also climb.

Ontario’s Financial Accountability Office says low interest rates have fuelled spending in the province and the household debt has grown by 5.6 per cent on average each year between 2010 and 2016.